Dimensional Fund Advisors LP Sells 27,132 Shares of California Resources Co. (NYSE:CRC)

Dimensional Fund Advisors LP reduced its stake in shares of California Resources Co. (NYSE:CRC - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,567,435 shares of the oil and gas producer's stock after selling 27,132 shares during the period. Dimensional Fund Advisors LP owned 3.90% of California Resources worth $185,106,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Entropy Technologies LP acquired a new position in California Resources in the 4th quarter worth about $841,000. Bank of New York Mellon Corp raised its position in California Resources by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 739,057 shares of the oil and gas producer's stock valued at $38,350,000 after acquiring an additional 14,240 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in California Resources by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 55,289 shares of the oil and gas producer's stock valued at $2,869,000 after acquiring an additional 649 shares during the last quarter. Empowered Funds LLC grew its position in California Resources by 84.3% in the fourth quarter. Empowered Funds LLC now owns 48,929 shares of the oil and gas producer's stock worth $2,539,000 after acquiring an additional 22,383 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of California Resources by 475.8% during the 3rd quarter. Tidal Investments LLC now owns 30,231 shares of the oil and gas producer's stock valued at $1,586,000 after purchasing an additional 24,981 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at California Resources

In related news, Director James N. Chapman purchased 2,000 shares of California Resources stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the transaction, the director now directly owns 43,445 shares in the company, valued at approximately $1,712,601.90. This represents a 4.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CRC shares. Royal Bank of Canada lowered their target price on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Barclays dropped their price objective on California Resources from $55.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial began coverage on California Resources in a report on Monday, January 13th. They issued a "buy" rating and a $75.00 target price on the stock. Finally, Citigroup lowered California Resources from a "buy" rating to a "neutral" rating and cut their price target for the stock from $62.00 to $36.00 in a report on Monday, April 7th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.64.

California Resources Stock Performance

CRC stock traded down $0.43 during midday trading on Tuesday, hitting $35.31. The stock had a trading volume of 82,859 shares, compared to its average volume of 856,757. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 5.56, a P/E/G ratio of 1.02 and a beta of 1.03. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $40.25 and a 200 day simple moving average of $48.62. California Resources Co. has a 52 week low of $30.97 and a 52 week high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last issued its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). The business had revenue of $877.00 million for the quarter, compared to analyst estimates of $901.36 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. As a group, equities research analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Monday, March 10th. California Resources's payout ratio is 37.71%.

California Resources Profile

California Resources Corporation operates as an independent oil and natural gas exploration and production, and carbon management company in the United States. The company explores, produces, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.